Indonesia had been offered Russian crude oil at a 30 percent discount. Following that, state-owned oil company Pertamina said it was reviewing the risks of buying Russian oil.
Shell controls 35 percent of the participating interest and the remaining 65 percent is controlled by a Japanese company called Inpex Corporation
In Semester 2 of 2022, PT Pertamina Hulu Energi (PHE) found three new oil and gas reserves. In Semester 1 of 2022, Pertamina also found oil and gas reserves in four exploration wells in Indonesia.
Pertamina Discovers Gas Reserve in Balikpapan
The subsidiary of Pertamina Hulu Energi announced that the discovery was made upon drilling in Manpatu-1x exploration well. This is the first discovery made by the company at the start of the year.
“Drilling started on October 20, 2021, using Hakuryu-14 rig and reached the depth of 3,776.4 meter on December 9, 2021. [The effort resulted in the] discovery [of] oil and gas hydrocarbon layers with total net pay thickness of 207 meters at Sepinggan Delta Sequence and Sepinggan Carbonate Sequence interval, with a very good reservoir quality," vice president of Pertamina Hulu Energi Bayu Giriansyah said in a statement Wednesday, January 5, as reported by Antara.
Manpatu-1x exploration well is located in South Mahakam area in the offshore of Balikpapan waters. It was reported that the first drill stem test (DST) was conducted on Monday at the main reservoir target, and the next DST will be conducted at another reservoir zone at Sepinggan Carbonate Sequence.
President director of Pertamina Hulu Energi Kalimantan region Chalid Said Salim said the discovery of new gas reserve is an achievement amid the company’s efforts and strategies in increasing oil and gas reserves and improving production through exploration and exploitation drillings.
In the future, Salim said the company already has several strategies mapped out to help Indonesia achieve its target of 1 million bopd and 12 bscfd by 2030. It will continue aggressive exploration activities to find new resources with a new play concepts and ensure the optimization of baseline and development to increase production, among others.